Odaseva, the leading enterprise cloud data protection platform focused on serving large enterprise organizations with business-critical Salesforce deployments, announced a Series B funding round of $25 million. The round was led by Eight Roads Ventures with new investor F-Prime Capital and included previous backers Partech, Salesforce Ventures and Serena.
Since the company launched in 2012, Odaseva has broadened the scope of data protection for large-scale Salesforce customers, ‘building their trust in the cloud’. Customers use Odaseva’s technology for everything from backing up and archiving data to ensuring data privacy.
The company claims three consecutive years of 100 percent revenue growth, driven by its expansion in North America and other international markets. During that time, the company doubled its headcount and added enterprises such as Dropbox, Boston Scientific and Manulife to a customer list that includes Heineken, Schneider Electric, Robert Half and Toyota.
“Cloud adoption is facing new challenges as enterprises demand more assurance around compliance, operational risks, and security,” said Michael Treskow, Partner at Eight Roads Ventures. “Odaseva is providing the platform enterprises need to increase their operational agility, especially organizations in highly regulated industries like banking, insurance, and healthcare.”
The new round of investment will support several key growth initiatives for the company, including:
- Further development of the depth and breadth of the core Enterprise Cloud Trust Platform offering, supporting platforms including Salesforce, Microsoft 365, and more
- Accelerated hiring in the company’s San Francisco, Sydney, and Paris offices
- Increased investment in Odaseva’s strong ecosystem of users and partners, extending Odaseva’s long-standing commitment to developing and teaching the best practices of enterprise cloud data protection